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Registered User
Joined: 6/24/2005
Posts: 38
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I went short in this stock at 41.73 on 10/12 just before it broke out of what looked like a bearish pennant between 10/4 and 10/12. The pennant formed after a sharp failure of a symmetric triangle that spanned August and September. At least that is how my novice analysis saw things (feedback on that analysis is greatly appreciated).
Now I am not sure what kind of character it is taking on. I would like to see more volume on a down day like today and TSV is (I think) starting to diverge a little bit. TSV is not an indicator I am particularly familiar with, so maybe I am not reading it right, but I am not particularly fond of the volume action.
Any thoughts from you more savvy traders?
Thanks!
Mike
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Registered User
Joined: 5/16/2005
Posts: 4
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Hi I would look at the sector to se how they are doing, also there looks to be some resistance around the 200 MA on a daily chart or 38, and happened to be a 50 MA bar on the weekly chart, so you might want to adjust your stop since your doing good for now, olso Money flow is on your side.
That is just my opinion
Good Luck 
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Registered User
Joined: 5/16/2005
Posts: 4
|
Hi I would look at the sector to se how they are doing, also there looks to be some resistance around the 200 MA on a daily chart or 38, and happened to be a 50 MA bar on the weekly chart, so you might want to adjust your stop since your doing good for now, olso Money flow is on your side.
That is just my opinion
Good Luck
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